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Govt projects 6.9-7.8% growth in Q2
18 Jun 2021
The government has projected economic growth in the second quarter of 2021 to reach 6.9-7.8 percent year on year, supported by household consumption, government spending and exports, among other.
“Household consumption, government spending, investment and export that have shown improvement in Q1 are predicted to grow significantly and to support growth in Q2,” Coordinating Economic Minister Airlangga Hartarto said in a written statement as reported in the media on Monday (17/5).
According to the minister, investment would grow significantly as a result of the implementation of the controversial Job Creation Law, both from the establishment of the investment management agency and the investment priority list.
According to Airlangga, investment would grow along with investors’ confidence in the government’s national economic recovery programs.
“Besides, government spending will also expedite [economic] growth in Q2, mainly from the implementation of the national economic recovery programs,” said Airlangga, who is Golkar Party chairman.
The minister said government spending would be pushed and directed to follow counter-cyclical fiscal policies, adding that the Covid-19 mitigation and national economic recovery programs are expected to accelerate economic recovery in the short term.
Airlangga said exports were also expected to grow along with the gradual improvement of the global economy, particularly the economic recovery in Indonesia’s two largest trade partners, China and the United States.
“The implementation of the Job Creation Law is also a determinant factor in accelerating exports in Q2 of 2021 and in the future,” he added.
Meanwhile, the government said the “Love Made-in-Indonesia Products” campaign on 5-13 May 2021 was expected to jack up household spending. The campaign involved 72 e-commerce.
Ramadan and Idul Fitri holidays were also expected to drive household consumption, which has so far been the largest contributor to gross domestic product at 57%.
“Even though the government banned people from going on mudik [homeward mass exodus], household consumption will keep growing as a result of the government policy to stimulate consumption through the online shopping campaign and acceleration of social donation distribution,” he added.
@jokowi
@perekonomianri
@kemendag
@statistics_bps
@fadjroelrachman
“Household consumption, government spending, investment and export that have shown improvement in Q1 are predicted to grow significantly and to support growth in Q2,” Coordinating Economic Minister Airlangga Hartarto said in a written statement as reported in the media on Monday (17/5).
According to the minister, investment would grow significantly as a result of the implementation of the controversial Job Creation Law, both from the establishment of the investment management agency and the investment priority list.
According to Airlangga, investment would grow along with investors’ confidence in the government’s national economic recovery programs.
“Besides, government spending will also expedite [economic] growth in Q2, mainly from the implementation of the national economic recovery programs,” said Airlangga, who is Golkar Party chairman.
The minister said government spending would be pushed and directed to follow counter-cyclical fiscal policies, adding that the Covid-19 mitigation and national economic recovery programs are expected to accelerate economic recovery in the short term.
Airlangga said exports were also expected to grow along with the gradual improvement of the global economy, particularly the economic recovery in Indonesia’s two largest trade partners, China and the United States.
“The implementation of the Job Creation Law is also a determinant factor in accelerating exports in Q2 of 2021 and in the future,” he added.
Meanwhile, the government said the “Love Made-in-Indonesia Products” campaign on 5-13 May 2021 was expected to jack up household spending. The campaign involved 72 e-commerce.
Ramadan and Idul Fitri holidays were also expected to drive household consumption, which has so far been the largest contributor to gross domestic product at 57%.
“Even though the government banned people from going on mudik [homeward mass exodus], household consumption will keep growing as a result of the government policy to stimulate consumption through the online shopping campaign and acceleration of social donation distribution,” he added.
@jokowi
@perekonomianri
@kemendag
@statistics_bps
@fadjroelrachman